NZD/USD is experiencing a notable uptick, rising over 1% and trading around 0.5690 during the Asian session on Wednesday. This movement comes as the pair breaks above the nine-day Exponential Moving Average (EMA), suggesting a shift in momentum. However, the broader technical outlook remains bearish, with the currency pair continuing to trade within a descending channel pattern.
Despite the recent gains, the persistent bearish bias indicated by the daily chart raises concerns about the sustainability of this upward movement. Traders will be closely monitoring the 0.5700 mark as a potential target, which could serve as a pivotal level in determining the next directional move for this currency pair. With ongoing volatility in the forex market, fluctuations in the exchange rate are likely to continue influencing trading strategies.
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Data Source: FX Killer Analysis Team Updated: 2025-11-26 04:47
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.